Vy Global Growth Just Filed Its Annual Report: Net Income (Loss)...



Net Income (Loss) Per Ordinary Share



The Company complies with accounting and disclosure requirements of FASB ASC Topic 260, “Earnings Per Share.” The Company has two classes of shares, which are referred to as Class A ordinary shares and Class B ordinary shares. Income and losses are shared pro rata between the two classes of shares. Net income (loss) per ordinary share is calculated by dividing the net income (loss) by the weighted average of ordinary shares outstanding for the respective period.



The calculation of diluted net income (loss) per ordinary share does not consider the effect of the warrants issued in connection with the Initial Public Offering and the Private Placement to purchase an aggregate of 20,500,000 ordinary shares in the calculation of diluted income (loss) per share because their exercise is contingent upon future events and their inclusion would be anti-dilutive under the treasury stock method. Accretion associated with the redeemable Class A ordinary shares is excluded from earnings per share as the redemption value approximates fair value.



The following table reflects presents a reconciliation of the numerator and denominator used to compute basic and diluted net income (loss) per share for each class of ordinary shares:







































































































 




 




 




 




 




 




 




 




 




From August 18, 2020 (inception) through




 




 




December 31, 2020




 




    




Class A




    




Class B




Basic and diluted loss per ordinary share:




 




 




  




 




 




  




Numerator:




 




 




  




 




 




  




Allocation of net loss




 




$




(13,430,330)




 




$




(4,968,416)




 




 




 




 




 




 




 




Denominator:




 




 




  




 




 




  




Basic and diluted weighted average ordinary shares outstanding




 




 




36,783,088




 




 




13,607,537




 




 




 




 




 




 




 




Basic and diluted net loss per ordinary share




 




$




(0.37)




 




$




(0.37)




 

The above information was disclosed in a filing to the SEC. To see the filing, click here.

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